Chinese Markets Slammed Shut After Stocks Tumble

Asian markets tumbled on the first day of trading in 2016, with declines so steep in China that authorities halted all mainland trading before the end of the day. Photo: EPA

This transcript has been automatically generated and may not be 100% accurate.

I ... Chinese markets low shot after Stokes what is on the first is trading in twenty sixteen ... traders came into war weary of tensions emanating from the Middle East as Citi Arabia ... severed diplomatic ties with Iran ... consent ... dished up oil prices in Asian trading and sent investors scurrying for safety pins ... economic data from the show keeps pressure on markets with PMI numbers showing continued contraction in the tastic on a ... weaker than expected Korean export numbers from the weekend also raised fears that global trade might be stumbling once again ... Rebecca losses all around Asia markets on Monday ... but they were completely overshadowed by losses in China which saw its biggest losses since the summer's market right ... the sell off triggered a new circuit breakers on the first eighty went live ... those cakes and after the CSI three hundred index fell five percent just after lunchtime ... that triggered a fifteen minute break ... intended talaga time for this is the show I ... get their bearings and get back in the game ... but that didn't cost and ... instead ... markets continue to sell a ... painting another seven percent level before two pm ... which triggered an abrupt end to trading ... more than an hour before the usual time ... as the dust settled the Shanghai Composite was down six point nine percent ... the change in counterpart ... eight point two percent lower ... some fund managers and brokerages are worried that in a highly leveraged market like trainers ... impossibility Markets Graeme still hold just since more people fleeing for the exits ... to write a